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DeGette Calls for New Incentives to Spur Drug Innovation

Jun 11, 2014

Press Release

WASHINGTON – Today, U.S. Rep. Diana DeGette (CO-01) called for new approaches to encourage further investments in drug innovation. The hearing on “21st Century Cures: Examining the role of Incentives in Advancing Treatments and Cures for Patients” was conducted in the Energy and Commerce Subcommittee on Health.

“We know there are many different types of incentives currently in place that help spur research and development in both the drug and device space,” said Rep. DeGette. “These range from funding for research and public private partnerships to tax credits and various exclusivity periods. Today’s hearing is an important opportunity to identify areas where we may need to create new approaches to ensure continued investment in the development of treatments and cures.”

Rep. DeGette recently joined Energy and Commerce Committee Chairman Fred Upton to announce the launch of 21st Century Cures, a new initiative that aims to accelerate the pace of cures and medical breakthroughs in the United States.

The 21st Century Cures Initiative is broadly collaborating with the National Institutes of Health (NIH), Food and Drug Administration (FDA), and other agencies, as well as the nation’s patients and scientific pioneers in academia and industry. Since the initiative was launched, the Committee on Energy and Commerce has conducted two hearings and a roundtable with leading experts. The following white papers have also been released as part of the initiative’s extensive efforts: